It is becoming clear that companies are not finished with layoffs.

It is only four weeks into the new year, and tens of thousands of jobs have already been slashed across a multitude of industries, from Wall Street to travel, tech and media. 

Many executives attributed the cuts to ongoing efforts to reorganize. It underscores how concerns about the economy are forcing employers to tighten their belts in the face of high interest rates and stubborn inflation.

Andy Challenger, senior vice president of executive outplacement firm Challenger, Gray & Christmas, had forewarned that cuts would continue into the new year after already surging 98% in 2023 compared to the year prior. 

“Employers are still extremely cautious and in cost-cutting mode heading into 2024, so the hiring process will likely slow for many job-seekers and cuts will continue in the first quarter,” said in a recent report.

Read More Here: